Oh yeah…and just where IS that missing $6M going to come from to build this streetcar from Downtown to the King Center. Many already questioned the construction of the line, since it will do absolutely NOTHING to ease the grid-lock traffic that Atlanta is experiencing. I’ll be following this story for sure! ~~~Thom Abbott
$5.6 Million Meant for Atlanta’s Streetcars Already Spent
Updated: Wednesday, 01 Jun 2011, 7:33 PM EDT
Published : Wednesday, 01 Jun 2011, 7:33 PM EDT
ATLANTA, Ga. – The highly-anticipated downtown Atlanta streetcar project is having trouble getting off the ground. The city was supposed to come up with nearly $6 million toward the project, but that money is long gone.
Council Member Felicia Moore told FOX 5’s Aungelique Proctor that the $5.6 million that was supposed to go to the streetcar project was instead spent two years ago by former Mayor Shirley Franklin. Moore says it was used in 2009 for public safety purposes to close the budget gap.
The city is launching two investigations into how the mistake could have occurred. One is being conducted by the auditors, and another by the law department.
The federal government has already given the city $47 million in federal stimulus money for the streetcar project, and now the mayor’s office is left scrambling to find the money they need somewhere else. A representative from the mayor’s office tells FOX 5 they do have a plan, and that they hope to sell some prime real estate in midtown in order to come up with the money needed to fund their portion of the streetcar project.
The project is supposed to be completed in the summer of 2012. The planned 2.6 mile line would run from The King Center to Centennial Olympic Park, and it would bring 2,000 jobs with it.
Councilman C.T. Martin says he looks forward to finding out how the mistake was made.
Believe it or not, when you look at the current inventory available in Midtown Atlanta, there is not as many options as you might think. The market does have short sales and foreclosure options but some of the most popular buildings do not have a high inventory of homes for sale. ~~~ Thom Abbott
Today’s real estate market is shaping up to be a robust one when it comes to sales of condominiums, townhomes and lofts, according to housing professionals.
“We’ve seen a pick–up in traffic at all of our sites, with lots of contract activity,” says Vic Miller, senior vice president of sales/managing broker, The Marketing Directors, LLC (www.themarketingdirectorsinc.com) in Atlanta. “We’re also seeing more buyers able to sell their existing homes and make their move into a new condo, townhome or loft.”
One of The Marketing Directors’ current projects includes a new gated townhome community, Brownstones at Edgewood (www.atlbrownstones.com). The three- and four-bedroom townhomes in the heart of Edgewood feature private two-car garages. As of last month, 18 live/work options were available starting at $199,900.
The townhomes feature expansive living areas with hardwood floors, gourmet kitchens with granite countertops and appliance packages, fireplaces, contemporary light fixtures, spa baths with Jacuzzi tubs and tiled showers and spacious decks with a select number of rooftop terraces.
Just steps from Piedmont Park, Ansley Parkside (ansleyparkside.com) came under new ownership in April and by May had one townhome under contract, with 40 available. Located on Monroe Drive across from the Morningside/Ansley Park neighborhood, the community of three-bedroom, three-and-a-half bath brownstones is convenient to dining and entertainment.
“Buyers are looking to simplify their lives and be centered in a more walkable lifestyle,” says Irene Hall, vice president, marketing for Evolv (evolvre.com), which represents Ansley Parkside. “Intown is still an attractive place for young professionals and those trying to downsize or simplify.”
Ansley Parkside offers two floorplans: the Monroe and the Piedmont. Both have three bedrooms, designer finishes throughout, hardwood floors, gourmet kitchens with granite countertops and a two-car garage. An outdoor pool is slated to open in July. Special financing is available, with prices starting in the $370s.
Sales have been strong at both The Park at East Paces (parkeastpaces.com) and The Stacks at Fulton Cotton Mill, reports Leslie Williamson of Coldwell Banker NRT Development Advisors, which handles sales and marketing for the properties. Just last month, The Park at East Paces had five of 81 homes remaining, while The Stacks at Fulton Cotton Mill (stackslofts.com) was more than 50 percent sold (with 134 homes total in phase two sales).
Located on East Paces Circle at the intersection of Roxboro Road and East Paces Ferry Road in Buckhead, The Park at East Paces offers one- , two- and three-bedroom floor plans, from the $170s to the $320s. Features at The Park at East Paces include elevators to each floor, custom open kitchens, granite counter tops, tile or natural stone back splashes, hardwood floors, garden tubs and separate showers, private balconies and a fitness center.
Floorplans at The Stacks at Fulton Cotton Mill – originally the Fulton Bag & Cotton Mill built in 1881– include one bedrooms, from the $130s, and two bedrooms from the $170s. Minutes from Freedom Park and shopping and dining, the New York-style loft homes, at 170 Boulevard in Atlanta, offer skyline and courtyard views and controlled access entry and parking.
Other features at the pet-friendly property include: loft-style ceilings with exposed wood timbers, European-style vanities and kitchens, quartz countertops in kitchens and baths, concrete floors and a stainless steel appliance package (gas stove, refrigerator, microwave, dishwasher).
Almost as plentiful as the amenities are the number of options on the market today in condos, town homes and lofts – with low interest rates proving just as appealing.
As Williamson points out, “while the past several years have been challenging for real estate, now is a smart time to buy” thanks to those low rates.
“Home ownership is still important to the consumer and is considered a lifestyle investment,” adds Williamson. “With condo, town home, and loft communities that offer a value proposition (competitive price, lifestyle, location) sales are occurring.”
Finding the Best Buys in Today’s Midtown Atlanta Real Estate Market
It is still very much a Buyer’s market here in the Midtown Atlanta real estate market. What does that mean to a buyer? Well, it means you can get a good price on a Midtown Atlanta condo. However, if you know what to look for, there are properties on which you can get a greatprice.
Here are three areas of the Midtown Atlanta Real Estate Market that generally offer the best prices:
Homes that have been on the market for several weeks (or months!) – Have your real estate agent send you homes that have been on the market for several weeks or months. These property owners are generally more motivated to sell than the owners of newly listed homes. They’re more willing to negotiate for lower prices or even give you extras such as paying upfront HOA fees or paying a portion or all of your closing costs.
Bank owned properties – Bank owned properties (also known as Real Estate Owned or REOs) are homes that go back to the mortgage company after an unsuccessful foreclosure auction. Like foreclosures, the savings can be well worth the extra time that it may take to get closed. Your Midtown Atlanta Real Estate agent can help you understand the pro’s and con’s with this type of purchase and guide you through the process.
“As is” properties. A property listed “as is” means the seller is not willing, or possibly able, to fix anything and will not negotiate a price reduction based on needed repairs. However, if you’re willing to put some money and elbow grease into the property, this could be your opportunity to get more home, in a better location and at a price you can afford. Thankfully in the Midtown Atlanta Real Estate market, we find that many of the bank-owned or foreclosed properties are usually in good, if not GREAT condition. There may not be the need for any work, but the Seller is just letting you know that if you find any issues during your inspection, they won’t be paying for the repairs.
A word of caution to the Buyer of a Midtown Atlanta Condo, especially foreclosures! Your competition (other Buyers) can see the values in some of the prices offered, and you may find yourself in a multiple-offer situation. Be prepared to sharpen your pencil on your offer, or even offer over the list price (provide it’s priced right and not OVER priced) if you really find a condo you want.
If you’d like help finding the best buys in today’s Midtown Atlanta Real Estate market, give me a call today or you can contact me here. I’d be happy to help you!
Yesterday, I wrote a post about the use of mass transit – buses specifically – and how the the Senate Banking Committee is being pressured to continue funding buses. The argument is that reducing funding would be detrimental to the national economy. The major impact would be on the the reduction in demand for the manufacture and sale of new buses.
I received a lot of great comments from yesterday’s post so I thought I would elaborate on the issue today.
Many people over the years have espoused bus transportation as the solution to air polution, vehicle trips, crowded streets, and many other issues.
However, buses cannot work as they are envisioned – just as most commuter trains cannot.
Say I live 8 miles from the Courthouse and I have a 9:00 appointment. The bus that serves my neighborhood comes at 7:30. The next bus comes at 8:30 but doesn’t get me there in time. So I to leave home nearly 2 hours before my appointment to use the bus. If I drove, I could leave 30-45 minutes before the meeting, depending on traffic.
Then, I need to return home or back to my office after an hour or two. I likely will have to wait for the next scheduled bus and could use up to another 90 minutes before arriving back at my local bus stop. Thus a one-two hour meeting could take nearly 6 hours counting bus travel. Not an efficient way to use one’s day.
If I have more than one stop in a day – which many of us do – buses don’t work because they either don’t go where we are going or don’t go when we need to be there. Then there’s always the issue of getting back again.
Making sales calls or showing homes obviously cannot be done by bus.
Since buses have such limited practical application – essentially taking people from outlying areas to the downtown in the morning and returning them at night – few cities and towns can take full advantage of buses unless nearly everyone works downtown and stays there all day.
Buses were a grand experiment that carried over from the streetcar days. They just haven’t worked and really can’t work outside the urban core. The ridership isn’t there, the routes can’t be there economically, and the schedules can’t be there due to manpower and vehicles.
Privatizing buses by useing mini-buses and vans might work on limited routes on a park and ride basis, but even that is doubtful because people will want to go when and where the buses don’t.
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For more information on my coaching and educational programs and services, visit my website stevehoffacker.com, or go to my other bloghomesalesinsights.com for additional sales tips, insights, and commentary. Listen to my free podcast messages at Steve Hoffacker’s Happenings.
Steve Hoffacker – Consultant, Coach, Author, Blogger, Photographer, Motivator, Teacher, & Strategist – for Realtors, Real Estate Sales Professionals, Home Builders, New Home Salespeople, Entrepreneurs, Small Business Owners, and Independent Sales Representatives.
I know Steve by way of a site where we share our blogging platforms. But this is probably the most common sense explanation of the use of buses or lack thereof I have ever read. Thanks Steve!
This article appeared in the AJC on Sunday, May 22.
A good point is made….Will Atlanta and the surrounding 10 metro counties that have to vote to approve the transportation referendum in 2012 have a clear understanding of what the money is going to do and how it’s going to help them and improve Atlanta’s quality of life as well as keep us competitive as a place to draw more people and corporate headquarters to?
Every day, Atlanta’s population more than doubles to more than 1.2 million people as workers, shoppers and entertainment seekers pour into the city in cars or via mass transit, according to city officials.
In many ways, Atlanta — where three major interstates and two major railroad networks converge — lies at the heart of the region’s traffic grid. It has always struggled to maintain and expand interstate and transit systems that link the metro counties and move their residents.
Officials in the capital city are banking on the money raised by the 2012 transportation referendum’s 1-cent tax, if the 10-county region passes it, to pump millions of dollars into the MARTA system, to fix bridges and roads, to accelerate the completion of the Atlanta Beltline. Of course, how many of Atlanta’s suggestions make it to a final project list has yet to be seen.
Other people question whether Atlanta voters who already are paying a 1-cent MARTA tax will want to spend more. Atlanta has an 8 percent sales tax, one of the highest in the state. If the referendum passes, that would jump to 9 percent.
As we continue our review of Georgia Tech Condo Housing options for the Georgia Tech student and parents, it’s time to look at the newest building close to the Georgia Tech Campus. A beauty, a class act…and my personal favorite!
Viewpoint Midtown Atlanta arrived on the Midtown Atlanta Condo scene in 2008. Original plans called for a total of THREE residential towers, but those plans have since been scrapped. (This picture gives you and idea of what the plan was!!) Might be a good thing for current and future owners! Of the 378 original homes, there are just a handful of unsold homes remaining! And all of those are one bedroom or one bedroom + den floor plans. If you are looking for a 2 bedroom home, we will be on the search for a resale listing. A Georgia Tech parent looking for Georgia Tech Condo Housing will want to move quickly on this community.
What’s so special about Viewpoint in my opinion? The developer, Novare Group (known for Metropolis, Spire, Twelve Atlantic Station, Twelve Centennial Park, The Atlantic, Realm, Eclipse and Gallery….whew!) just seemed to get the package right here. From the lobby to the amenities to the variety of floor plans and finishes…it all just comes together.
But, the amenities of Viewpoint Midtown Atlanta probably do set it apart. Located on the 11th and 12th Floors of the building, they were creatively designed and separated into 4 distinct areas. The main club room features a pool table, movie theater, catering kitchen with wet bar and ample table and couch seating throughout the space. Enjoy you favorite programs on several big screen TV’s or make your own music with a iPod docking station.
On either side of the tower on the 11th floor are two distinct amenity areas. One is the Zen Garden, complete with beautiful landscaping, a water feature, grilling areas and an outdoor “living room” with flat screen TV and a fireplace. It’s just so cool! I could see this being the perfect outdoor “study hall” with a couple of Georgia Tech classmates! The other side of the 11th floor is the pool. Surrounded by lush plantings and cozy areas with lounge chairs, this is THE way to escape a Hotlanta summer for sure! There is also a wet bar, two huge gas grilling “bars” and ample tables for dining alfresco once you’ve got that steak ready!A perfect place to unwind after a crazy week of classes at Georgia Tech, and a great place to entertain your Georgia Tech parents!
Located on the 12th floor is the state-of-the-art Fitness Center. Work out while watching your own personal TV on the cardio equipment, or take in the Midtown vistas through floor-to-ceiling windows!
Ok, on to the homes! A variety of one and 2 bedroom floor plans offer the Georgia Tech parent or student various living options. If you are looking to have a room mate during your time at Georgia Tech, then a 2 bedroom home would be the best choice. Some of them might require some slight modifications to actually close off one of the bedrooms, but I can help you find a contractor for this task.
Security and safety are a concern for any Georgia Tech parent and student. Viewpoint is a controlled access building, and access is gained by having a key card, which in turn only allows you to gain access to the lobby, your parking floor, your residential floor and the amenities area.
The location of Viewpoint on Peachtree Street, between 6th and 7th Streets is a perfect location for the Georgia tech student. The Technology Square portion of campus is within easy walking distance and the Tech Trolley and Stinger will take you further into the main campus.
If you are a Georgia Tech parent looking for Georgia Tech Condo Housing options, I invite you to look at Viewpoint Midtown Atlanta! I’m sure you will love the building as much as I do!
It is still very much a Buyer’s market here in the Midtown Atlanta real estate market. What does that mean to a buyer? Well, it means you can get a good price on a Midtown Atlanta condo. However, if you know what to look for, there are properties on which you can get a great price.
Viewpoint Midtown Atlanta
But, the amenities of Viewpoint Midtown Atlanta probably do set it apart. Located on the 11th and 12th Floors of the building, they were creatively designed and separated into 4 distinct areas. The main club room features a pool table, movie theater, catering kitchen with wet bar and ample table and couch seating throughout the space. Enjoy you favorite programs on several big screen TV’s or make your own music with a iPod docking station.
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